Experts for Leasehold Conveyancing in Waterbeach

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While any conveyancing practice can theoretically deal with your leasehold conveyancing in Waterbeach, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Examples of recent questions relating to leasehold conveyancing in Waterbeach

Harry (my fiance) and I may need to sub-let our Waterbeach basement flat temporarily due to a career opportunity. We used a Waterbeach conveyancing firm in 2003 but they have closed and we did not think at the time get any guidance as to whether the lease permits subletting. How do we find out?

Some leases for properties in Waterbeach do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to review references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.

Due to exchange soon on a leasehold property in Waterbeach. Conveyancing lawyers inform me that they are sending me a report within the next couple of days. What should I be looking out for?

Your report on title for your leasehold conveyancing in Waterbeach should include some of the following:

  • The unexpired lease term You should be advised as what happens when the lease ends, and informed of the importance of the 80 year mark
  • Will you be prohibited or prevented from having pets in the property?
  • Does the lease prevent you from renting out the property, or having a home office for business
  • You should be told what counts as a Nuisance in the lease
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • Responsibility for repairing the window frames
  • What options are open to you if a neighbour breach a clause of their lease? For details of the information to be contained in your report on your leasehold property in Waterbeach please ask your lawyer in advance of your conveyancing in Waterbeach

    • I have just started marketing my basement apartment in Waterbeach.Conveyancing lawyers have not yet been instructed but I have just had a yearly maintenance charge demand – Do I pay up?

    Your conveyancing lawyer is likely to suggest that you should clear the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

    I am employed by a busy estate agency in Waterbeach where we have experienced a number of leasehold sales jeopardised due to leases having less than 80 years remaining. I have been given contradictory information from local Waterbeach conveyancing solicitors. Please can you clarify whether the seller of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?

    Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.

    An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

    What are your top tips when it comes to finding a Waterbeach conveyancing practice to deal with our lease extension?

    If you are instructing a property lawyer for lease extension works (regardless if they are a Waterbeach conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you speak with two or three firms including non Waterbeach conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be of use:

    • If the firm is not ALEP accredited then what is the reason?
  • What volume of lease extensions has the firm carried out in Waterbeach in the last 12 months?

    • I inherited a 2 bed flat in Waterbeach, conveyancing was carried out in 2004. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Waterbeach with a long lease are worth £184,000. The average or mid-range amount of ground rent is £55 invoiced annually. The lease ceases on 21st October 2098

    With only 73 years left to run we estimate the premium for your lease extension to be between £10,500 and £12,000 plus costs.

    The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of comprehensive investigations. Do not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Waterbeach